16 UNITS IN PRIME WEST HOLLYWOOD - files.ctctcdn.comfiles.ctctcdn.com/796e91ba001/d2642ca5-1138-4626-a3f0-b42cfb67dfd6.pdf · Concord Real Estate Services 449 S Beverly Drive, Beverly

Concord Real Estate Services | 449 S Beverly Drive, Beverly Hills, CA 90212 | 310.551.0660 | Concord-re.com

8730-8740 HOLLOWAY DRIVE, WEST HOLLYWOOD, CA 90069

16 UNITS IN PRIME WEST HOLLYWOOD

• Approximately 55% Upside in rents!• True character buildings with mature landscaping• Parcels total 12,013 square feet, zoned WDR4• No onsite manager required• Walking distance to West Hollywood nightlife• Highly desirable location near world-famous Sunset Strip• On-site laundry facilities• Bright, spacious units average almost 700 sqft


PROPERTY ANALYSIS • Summary• Property Photos• Neighborhood Information• Major Attractions & New Developments• Rent Roll• Financial Analysis• Sold Comparables • Rent & On Market Comparables

CONTACTKenny StevensProsser Stevens Real Estate InvestmentsBRE# 01090251424.284.4440 direct310.551.0661 [email protected]

CONTENTS


PROPERTY DESCRIPTIONUnits 16 (2 adjacent lots) Square Footage 10,744’ Major Intersection Holloway Dr. & Hancock Ave. Zoning Type WDR4*Market West Hollywood Year Built 1950APN 4339-009-001 4339-009-002

HIGHLIGHTSProperty Prosser Stevens Real Estate Investments proudly presents this exclusive listing for 8730-8740 Holloway Drive. These mid- century era buildings feature all 1-Bedroom units and the double lot measures 12,013 square feet, zoned WDR4*

Area Located north of Santa Monica Blvd. and west of La Cienega Blvd., these properties are walking distance to world famous hot spots, retail and restaurants.

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8730 Holloway Dr

LISTING SUMMARY


PROPERTY PHOTOS


PROPERTY PHOTOS


PROPERTY PHOTOS


WEST HOLLYWOOD, CALIFORNIA

West Hollywood, colloquially referred to as WeHo, is a city in western Los Angeles County, California. Incorporated in 1984, it is home to the Sunset Strip. As of the 2010 census, its population was 34,399. West Hollywood is bounded on the north by the Hollywood Hills neighborhood of Los Angeles, on the east by the Hollywood district, on the southeast by the Fairfax district, on the southwest by the district of Beverly Grove, and on the west by the city of Beverly Hills.

West Hollywood benefits from a very dense, compact urban form with small lots, mixed land use, and a walkable street grid. According to Walkscore, a website that ranks cities based on walkability, West Hollywood is the most walkable city in California. Commercial corridors include the nightlife and dining focused on the Sunset Strip, along Santa Monica Boulevard, and the Avenues of Art & Design along Robertson, Melrose, and Beverly Boulevard.

NEIGHBORHOOD INFORMATION


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Equinox - The premier high-end fitness club with luxury ammenities, world class trainers, and diverse list of cutting edge fitness classes.

The Roxy Theater - This historic music venue has been called the “best music ven-ue in LA” by showcasing legendary performances since the 70’s.

1 Oak - This premier nightclub, better known for its locations in NYC and Las Vegas, is the hottest place in West Hollywood to see and be seen.

Soho House - A private Member’s Club in the heart of West Hollywood that boasts a Rooftop Garden, bar and restuarant.

Soul Cycle - The hottest workout in West Hollywood! This trendy Spin Studio boasts a famous clientelle and major calroie burning results.

MOCA - The Museum of Contemporary Art is the heart of the creative and artisic culture in Los Angeles.

Major Attractions Holloway

Soho House

Soho House West Hollywood

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1 OAK

Roxy

The Roxy Theatre

Equinox

Equinox West Hollywood

Soul Cycle

SoulCycle - West Hollywood

MOCA

MOCA Pacific Design Center

subject property

8730 Holloway Dr

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MAJOR ATTRACTTIONS


Marriot Edition – West Coast Flagship Hotel 13-story, luxury hotel set to have 148 rooms, 20 condos, a restaurant, spa, and potentially roofdeck bar and nightclub. Edition will be covered on all sides with lush landscaping (open 2017)

Sunset Park & Sunset Place by Venice InvestmentsNearly 350,000 square foot development with 600 feet of frontage on Sunset including a 6-story mixed-use building with 99 luxury condos and a 5-story structure containing retail and food

Sunset Time by Kanner Architects Over 300,000 square foot mixed-use development covered in glass and dramatic architectural styling. The property will contain a 149-room hotel, 40 residential units, and 16,000 sf of retail

NEW DEVELOPMENTS

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New Developments Holloway

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Soho House West Hollywood

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RENT ROLL

8730-8740 HOLLOWAY DRIVE, WEST HOLLYWOOD, CA 90069


FINANCIAL ANALYSIS @ $6M

8730-8740 HOLLOWAY DRIVE, WEST HOLLYWOOD, CA

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to


UNIT MIX: (3) 2+1, (6) 1+1 PENDING

UNIT MIX: (16) 1+1

SOLD COMPARABLES

UNIT MIX: (18) 1+1.5, (3) 2+2, (3) 2+1.5 CLOSED: 09/17/2015

UNIT MIX: (9) 1+1, (4) 2+2 CLOSED: 4/29/2016

UNIT MIX: (10) 1+1, (2) 2+2 CLOSED 06/05/2015

UNIT MIX: (4) 2+2, (3) 1+1, (2) studios CLOSED 01/16/2015

UNIT MIX: 4 (2+2), 4 (1+1) CLOSED: 12/16/2015 1

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912 Hilldale Ave, Built 1969

$3,250,000 8 7,829 $422 $406,250 3.23% 20.1

Subject Property: 8730-8740 Holloway Drive, Built 1950

$6,000,000 16 10,744 $558 $375,000 3.1% 19.67

1425 Crescent Heights, 1959

$8,900,000 24 31,512 $282 $370,833 2.92% 21.79

8911 Cynthia Street, Built 1958

$4,335,000 12 14,937 $290 $361,250 2.89% 16.45

921 N Gardner Street, Built 1960

$3,000,000 9 6,511 $460 $333,333 3.98% 15.53

8770 Shoreham Drive, Built 1954

$5,200,000 13 13,902 $374 $400,000 3.89% n/a

8208 Norton Ave, Built 1956

$3,000,000 9 7,972 $376 $333,333 3.05% 19.49


ON MARKET COMPARABLES

UNIT MIX: (4) 1+1, (8) bachelor

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UNIT MIX: (16) 1+1

UNIT MIX: (2) 2+1, (4) 1+1, (2) 1+1 Jr

UNIT MIX: (14) 1+1, (2) singles

Subject Property: 8730-8740 Holloway Drive, Built 1950

$6,000,000 16 10,744 $558 $375,000 3.1% 19.67

969 Larrabee Street, Built1959

$5,999,000 16 10,512 $570 $374,973 2.82% 21.15

644 Westbourne Drive, Built 1954

$3,075,000 8 5,499 $559 $384,375 2.44% 21.91

1111-1115 N Doheny Drive, Built 1954

$4,179,000 8 5,499 $711 $375,000 2.06% 26.46


SOLD912 Hilldale Ave8770 Shoreham Drive1425 N Crescent Heights Blvd8911 Cynthia Street921 N Gardener Street8208 Norton Ave

ON MARKET644 Westbourne Drive969 Larrabee Street1111-1115 N Doheny Drive

SOLD & ON MARKET COMPARABLES

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912 Hilldale Ave

912 Hilldale Ave

8770 Shoreham Drive

8770 Shoreham Dr

1425 N Crescent Heights Blvd

1425 N Crescent Heights Blvd

8911 Cynthia Street

8911 Cynthia St

921 N Gardener Street

921 N Gardner St

8208 Norton Ave

8208 Norton Ave

644 Westbourne Drive

644 Westbourne Dr

969 Larrabee Street

969 Larrabee St

1111-1115 N Doheny Drive

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RENT COMPARABLES

Rent Bed Bath Description

1111 Larrabee Street $2,800 1 1

1147 N Clark Street $2,695 1 1

1211 Horn Ave $2,650 1 1

8648 Holloway Plaza Drive $2,695 1 1

9005 Cynthia Street $2,800 1 1

1305 N Harper Ave $2,600 1 1

Great location, walking dis-tance to Sunset Strip, outdoor patio, pool, on-site laundry.

Balcony, 1 car gated parking, granite countertops in kitchen and bathroom.

Stainless steel appliances, hardwood floors, ample closet space.

Great location, walking dis-tance to Sunset Strip, Garage parking, great views.

Beautifully remodeled with Carrarra marble counters, hardwood floors, balcony.

Hardwood floors and exposed beam ceilings, 1 underground parking, on-site laundry.

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Holloway Rent Comps

1111 Larrabee Street

1111 Larrabee St

1147 N Clark Street

1147 N Clark St

1211 Horn Ave

1211 Horn Ave

8648 Holloway Plaza drive

8648 Holloway Plaza Dr

9005 Cynthia Street

9005 Cynthia St

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1305 N Harper Ave

subject property

8730 Holloway Dr

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8730-8740 HOLLOWAY , WEST HOLLYWOOD, CA 90069

16 UNITS IN PRIME WEST HOLLYWOOD

Please contact: Kenny StevensBRE # 01090251424.284.4440 [email protected]

Documents

16 UNITS IN PRIME WEST HOLLYWOOD - files.ctctcdn.comfiles.ctctcdn.com/796e91ba001/d2642ca5-1138-4626-a3f0-b42cfb67dfd6.pdf · Concord Real Estate Services 449 S Beverly Drive, Beverly